Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. depreciation by three methods; partial years razar

Depreciation by Three Methods; Partial Years Razar Sharp Company purchased equipment on July 1, 2014, for...

70.2K

Verified Solution

Question

Accounting

Depreciation by Three Methods; Partial Years Razar Sharp Companypurchased equipment on July 1, 2014, for $70,200. The equipment wasexpected to have a useful life of three years, or 6,480 operatinghours, and a residual value of $2,160. The equipment was used for1,200 hours during 2014, 2,300 hours in 2015, 1,900 hours in 2016,and 1,080 hours in 2017.

Required: Determine the amount of depreciation expense for theyears ended December 31, 2014, 2015, 2016, and 2017, by (a) thestraight-line method, (b) units-of-output method, and (c) thedouble-declining-balance method.

Note: FOR DECLINING BALANCE ONLY, round the multiplier to fourdecimal places. Then round the answer for each year to the nearestwhole dollar.

a. Straight-line method Year Amount 2014 $ 2015 $ 2016 $ 2017$

b. Units-of-output method Year Amount 2014 $ 2015 $ 2016 $ 2017$

c. Double-declining-balance method Year Amount 2014 $ 2015 $2016 $ 2017 $

Answer & Explanation Solved by verified expert
3.7 Ratings (439 Votes)
    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The Centers for Disease Control reported the percentage of people 18 years of age and older...

Statistics
Q

Why is an accurate situation analysis critical for a successful public relations campaign? Describe the relationship...

General Management
Q

is a dideoxynucleotide Sanger sequencing gel for an unknown DNA rately and run on separate...

Biology
Q

1 punctuation of an introductory transitional phrase A In spite of its difficulty students receive...

Biology
Q

What were the two major goals of Truman s presidency rebuild Europe and stop the...

Biology
Q

6 US manufacturing output roughly doubled in the past twenty five years but that higher...

Basic Math
Q

QUESTION 10The phone numbers on the University of Georgia campus have the form SSS-CVA-DAWG, where...

Basic Math
Q

5 The probability that event A occurs is 7 A and B both occur Write...

Statistics
Q

In addition to recognizing what type of activity transactions are describing, it is important to...

Accounting
Q

A company acquired a building, paying a portion of the purchase price with available cash...

Accounting
Q

During 2014, Raines Umbrella Corp. had sales of $683,715. Cost of goods sold, administrative and...

Accounting
Q

Fixed costs per unit increases as production levels increses . True or false

Accounting